Funding for this research was provided by:
National Natural Science Foundation of China (71672009)
National Natural Science Foundation of China (71972011)
Rutgers School of Business Camden summer research grant
Article History
First Online: 29 June 2020
Compliance with ethical standards
:
: All the authors acknowledge that there is no conflict of interest to influence the work.
: We use Stata as the software to conduct the data processing and empirical tests in this paper.